Sensex, Nifty Set For Positive Open

RTTNews | 1 day ago

(RTTNews) - Indian shares look set to open on a positive note Wednesday after oil prices plummeted for a second straight day in the wake of comments from U.S. President Donald Trump that China can continue buying Iranian oil and that he hopes the country will also be purchasing "plenty" from the U.S.

Brent crude futures slumped 13 percent over the past two days, returning to levels last seen before the Iran-Israel conflict, amid signs that Strait of Hormuz would stay open for now.

Israel and Iran have accused each other of violating the ceasefire, but traders bet that a delicate ceasefire between the countries will hold.

Benchmark indexes Sensex and Nifty ended up by 0.2 percent and 0.3 percent, respectively on Tuesday, giving up some early gains.

The rupee closed with a steep gain of 75 paise at 86.03 against the dollar, marking its biggest daily gain in a month as easing geopolitical tensions lowered risk premiums.

Asian markets were flat to slightly higher this morning after rising sharply in the previous session.

Treasury yields and the dollar index were steady amid the easing in Middle East tensions and comments from Federal Reserve Chair Jerome Powell that "many paths are possible" for monetary policy.

Gold ticked higher after falling 2 percent to hit an over two-week low on Tuesday. Oil edged up slightly after posting the biggest two-day decline since 2022.

U.S. stocks rallied overnight as a fragile truce between Israel and Iran helped offset weak consumer confidence data and comments from Fed Chair Jerome Powell that rate cuts can wait until the economic effects of tariff increases are better known.

At the same time, Powell hinted that lower inflation and weaker labor hiring could lead to an earlier rate cut, prompting traders to price in two Fed cuts by the end of 2025, with a first move in September far more likely than next month.

The tech-heavy Nasdaq Composite surged 1.4 percent, the Dow gained 1.2 percent and the S&P 500 rose 1.1 percent to reach their best closing levels in four months.

European stocks advanced on Tuesday after the office of Israeli Prime Minister Benjamin Netanyahu and Iranian state media outlet Press TV confirmed a ceasefire had begun.

The pen-European STOXX 600 jumped 1.1 percent to hit a one-week high and notch its biggest single-day jump in over a month.

The German DAX climbed 1.6 percent, France's CAC 40 added 1 percent and the U.K.'s FTSE 100 finished marginally higher.

U.S. Pending Home Sales Unexpectedly Rebound In May

The National Association of Realtors released a report on Thursday showing an unexpected rebound by pending home sales in the U.S. in the month of May. NAR said its pending home sales index jumped by 1.8 percent to 72.6 in May after tumbling by 6.1 percent to a revised 71.3 in April.

RTTNews | 2h 23min ago

U.S. Economy Shrinks More Than Previously Estimated In Q1

Revised data released by the Commerce Department on Thursday showed the U.S. economy shrank by more than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product fell by 0.5 percent in the first quarter compared to the previously reported 0.2 percent dip. Economists had expected the decrease by GDP to be unrevised.

RTTNews | 2h 26min ago

U.S. Durable Goods Orders Soar 16.4% In May, Much More Than Expected

New orders for U.S. manufactured durable goods spiked by much more than expected in the month of May, according to a report released by the Commerce Department on Thursday. The report said durable goods orders soared by 16.4 percent in May after tumbling by a revised 6.6 percent in April.

RTTNews | 2h 50min ago

U.S. Weekly Jobless Claims Unexpectedly Dip To 236,000

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits unexpectedly fell in the week ended June 21st. The Labor Department said initial jobless claims dipped to 236,000, a decrease of 10,000 from the previous week's revised level of 246,000.

RTTNews | 3h 17min ago

Acuity Q3 Profit Weak, Adj. Profit Beats Street; Stock Gains

Shares of Acuity Inc. were gaining around 6 percent in the early morning trading on the NYSE after the industrial technology company's third-quarter profit beat market estimates with strong year-over-year growth in net sales. The third-quarter profit on a reported basis, meanwhile, was lower than last year, hit by a significant charge related to Lighting segment.

RTTNews | 3h 23min ago